Acala reveals details of Acala 2.0: committed to building a liquidity layer for Web3 finance
According to official news from Odaily, Polkadot DeFi platform Acala disclosed details related to Acala 2.0: Acala Exodus Upgrade. Its goals include providing a clear path for the aUSD product line, establishing the liquidity layer required for the Web3 financial environment, and expanding the ACA token Utility and role in network development. - Allow users to convert aUSD to aSEED at a 1:1 ratio and convert CDP vault to aSEED treasury, providing liquidity through Acala Swap, Stellaswap, Karura Swap and Zenlink; CDP vault conversion pallets and redemption proposals will be delivered next. The vault conversion pallet can convert the collateral in the vault to aSEED treasury on a pro-rata basis and return the remaining collateral to the vault owner. The introduction of a new vault conversion mechanism will ensure flexibility and control for vault owners. - Leverage Universal Asset Hub (UAH) and Euphrates Dapp to bridge the liquidity gap between blockchains. UAH is powered by tools such as Acala multi-chain asset routing, which are built on the XCM standard and the Wormhole protocol using Substrate and Acala EVM+. This ensures seamless liquidity between platforms using the Substrate token format and the EVM token standard, with plans to expand to other standards in the future, nurturing the LSTFi ecosystem. Euphrates will work by allowing LST stakers and liquidity providers to earn higher rewards in the form of ACA, as well as token rewards for participating in the project. The introduction of Euphrates will be deployed alongside DOT-based LST liquidity vaults, with subsequent expansion to support Ethereum and other multi-chain LST liquidity vaults. - ACA token economics updated with new release and destruction regulations to create a balanced ecosystem. Through governance approval, a total of 100 million ACAs are now released each year for 6 years, with 50% of the released volume being used for ACA staking and 50% being used to help build liquidity and increase adoption. ACA burns will occur periodically through unspent releases, governance votes, and partial network fees; this may deflate ACA.
Odaily: U.S. President Trump stated that we will make a decision on Iran very soon, the Houthis' actions are very bad, and he has already spoken with the Saudi Crown Prince. (Jinshi)
Odaily News: CME Group CEO Terrence Duffy stated that the U.S. Commodity Futures Trading Commission's (CFTC) attempt to expand its regulatory authority over prediction markets is "a bit of a stretch," and that the related regulatory dispute could ultimately reach the U.S. Supreme Court.Speaking at the DC Fintech Week event on Tuesday, Duffy said the battle over prediction market regulation could evolve into a legal showdown among state governments, tribal governments, and the federal government. "This is going to the Supreme Court, and I think the states and the tribes will prevail," he said. (The Block)
Odaily reports: Trader Killa says that for Bitcoin (BTC) to replicate its 2023 price action, it needs to form a higher low (HL) above $75,500 and ideally hold the low near $80,000.After Bitcoin recently reclaimed its short-term structure around the $82,000 zone, it pulled back to test and broke through again, with short-term price action showing strong characteristics of "bull traps and bear traps." When BTC previously fell from $84,100 to $81,000, the structure appeared weak, but a large number of shorts entering at the lows fueled the subsequent rebound.Killa noted that during the drop from $84,100 to $81,000, long liquidations totaled approximately $300 million, while during the earlier decline from $86,800 to $80,600, long liquidations exceeded $2 billion, indicating that the market's leverage structure is improving and the proportion of longs has declined compared to before. The market now needs to form a higher low and initiate the next leg up; otherwise, this correction could break below $80,000.
Odaily reports that according to MSX.COM data, US mega-cap cloud providers including Microsoft and Google rallied collectively. Google-A shares rose 1.07% to $356.510 per share, with a total market capitalization of $4.36 trillion.Microsoft shares rose 1.6% to $549.795 per share, hitting another record high, with a total market capitalization of $4.08 trillion. Amazon shares rose 0.93% to $261.950 per share, with a total market capitalization of $2.83 trillion.
According to MSX.COM data, Apple's stock price rose 1.74% in early trading to $346.892 per share, with a total market cap of $5.06 trillion, setting a new all-time high.
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